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Energy Blast – April 20, 2011

Deputy Prime Minister Igor Sechin is ‘convinced‘ that Russia’s nuclear power plants can withstand natural disasters.  Sergei Kiriyenko, the head of Rosatom, says that stricter safety demands will make nuclear plants more expensive and increase competition – although Russia has no intention of curbing its nuclear plans.  A Russian member of the board of TNK-BP says that the collapse of the BP-Rosneft tie-up would be the ‘least interesting outcome‘ for the deal, saying that the group either wants to join the alliance to explore the Arctic, or will seek compensation of as much as $10 billion.  Rosneft is planning a $200 million share buyback.  Transneft says that it won’t increase shareholder dividends as this would take money away from its charitable activities (which include ‘renovating churches and monasteries‘) – and Alexei Navalny, who holds shares in the company, has filed a suit to uncover details of the company’s philanthropic activities.